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JayCorp Freeman
'''JayCorp Freeman & Sons '''was a real estate & investment trading company founded in 4980 by Jarod Freeman based in Port O'Sey. It was the main Port O'Sey-based subsidiary owned by Jay Corporation. The company was founded as Freeman & Sons by a young Jarod Freeman shortly after moving to Port O'Sey, in order to tap in the local real estate market as a means to make ends meet. Freeman's business expanded from a one employee set up to a twenty man operation, maintaining a portfolio worth 560 million emeralds, a considerable jump from the 10,000 emeralds Jarod invested into the company. In 4992, Jay Corporation purchased Freeman & Sons in a secretive deal. The agreement left Freeman as the majority shareholder of the new entity. During the Republic of Port O'Sey era, JayCorp Freeman & Sons became the country's sole real estate agency, selling land on behalf of the government in exchange for a hefty commission. Following the 5024 Economic Recession and the subsequent Republic Crisis, JayCorp Freeman & Sons' assets were seized by the Commission for Republic Affairs. A hefty court battle ensued, which ended with the liquidation of the company's assets and a massive fine. The remaining assets were sold in a public auction. History Freeman & Sons (4987 A.A.W) By 4986, Jarod Freeman's presidential campaign had seen success in the voting polls. With the looming presidential election only 5 years away, and Republic Party funds slowly diminishing, Freeman decided to invest his remaining money in a real estate agency. On January 14 4987 A.A.W. Freeman purchased a small lot next to the town hall for ease of access and created Freeman & Sons. Thanks to his position as mayor of Port O'Sey City, real estate sales had been relatively successful that first year. At that time, Port O'Sey lacked any prime real estate as the market had not yet developed. Up until 4990, Freeman had considered the company a temporary institution and upon his rise to power, he would sell the company. At the fourth assembly of the Central Committee of the Republic Party, he decided instead to grow the company and use it as his government's independant real estate arm. His decision behind it relied solely on the excuse that it would allow the government to allocate funding to other important areas. When the Republic Party received majority vote in the 4991 presidential elections, newly elected President Freeman signed in the Real Estate Sale Act of 4991, one of his first major acts as president, which authorised his company the right to manage, distribute, exchange and develop the Republic's public real estate. Seeking to form a partnership, Shimian company JayCorp approached Freeman and offered to buy it out his company in exchange for his key participation in the new branch. Freeman accepted the offer, primarily due to JayCorp's superior corporate assets and experience as well as their Shimian ties. Jay Corporation (4992-5003 A.A.W) As the Republic saw high levels of economic and social growth in its early years, Jay Corporation had grown from a small privately-run business into a fully fledged corporation. In 4995 A.A.W, Jay Corporation was given the honour (this was purely an act of ceremonies) to develop the planned Central Business District. JayCorp established its branch headquarters there and was the first skyscraper to be constructed in the CBD, followed by offices for Trojan Architecture, PS Oil Exchange, Withered Forge and Nik Industries, which all saw potential in the growing Republic market. Over the course of 4995-56, JayCorp opened many branches trying to develop the real estate market. It utilised unused roads and highways originally built by the United Mushroom Union that were constructed during its occupation of the country and had been left unused. Across the country, JayCorp invested hundreds of millions of Emeralds into commercial and residential projects. In 5003, Freeman formed JayCorp's electronics wing as part of his ongoing effort to modernise the Seyian industry which relied heavily on metal, ores and oil. Port O'Sey Mictronics Corporation saw losses during its first three years of operation, but then grew to become a large electronics producing industry. The Microtronics Corporation mainly focused on constructing central processing units, microchips and other electronics directed at the computer and vehicles markets. By 5019, 38% of JayCorp's entire revenue came from the selling of electronics. JayCorp continued to grow until 5024. Decline and the Economic Recession of 5024 5024 had been considered a terrible year by many nations across the world. The Republic government's sudden anti-Capitol stance threatened the Capitol Dominion's economy, leading to a hostile response. Hoping to kill two birds with one stone, the Dominion started an economic recession that plunged the world into economic meltdown. The Republic was affected heavily by the recession, and saw its GDP shrink by 3% that same year. With inflation increasing, JayCorp had no choice but to raise the prices of land or see a collapse in the market, leading many people unable to purchase and sell land. JayCorp's stocks dropped by 36% in 5024, leading to a buyout offer from Nik Industries, which Freeman refused. 5025 was no better, as the Corporation saw additional drops in its stockprices. End of the Republic and Scandal The Republic crisis of 5026 saw the end of the Corporation's dominancy as the national real estate company. In February that year, Nik Industries offered 600 million Emeralds to purchase the company. Following the establishment of the Democratic Republic of Port O'Sey, the National Parliament issued a directive to suspend the corporation's activities in Port O'Sey, and the newly formed Commission for Republic Affairs immediately seized all of Jay Corporation's Port O'Sey assets pending a full investigation of corruption. The Commission, formed to investigate cases of corruption, state brutality and other affairs within the former Republic government accused Jay Corporation of purposefully and actively participating in the state-imposed monopolies and tax exemptions that benefited both government elite and JayCorp at the expense of other companies, the citizens of the country and the economy, who were subject to the artificially fluctuating real estate market. Public protests and boycotts against the company broke out as fresh evidence and declassified state documents regarding the topic came to light. Though denying the accusations, the scandal that followed cost Jay Corporation hundreds of millions in lost partnerships and severely damaged their public reputation both in Port O'Sey and abroad. In January 5027, the executive board of Jay Corporation, based out of Gennosuke, Shima, officially shut down the branch in an attempt to distance themselves from what they described as a media-driven witchhunt. In July 5027, in retaliation to JayCorp's withdrawal, the government auctioned off the branch's assets. Global corporations such as Nik Industries and Berg engaged in a highly bitter auction war over many key assets. Nik Industries acquired several lucrative container and oil terminals, as well as the Microtronics Corporation, which it would later use to springboard its own line of semiconductors and electronics. The remaining land owned by the company was either returned to their pre-Republic owners, or used to develop public infrastructure such as parks, memorials and playgrounds. Modern Times Jay Corporation re-entered the Port O'Sey market in 5031 under a different brand and image. Their primary business activities include the selling of brand new and second hand Shimian automobiles, consumer electronics and appliances. Category:Editing Schedule